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June Jobs Report: What It Means for the Bank of Canada's July 15 Decision

  Friday, July 10, 2026 Statistics Canada releases its June Labour Force Survey today, and the timing couldn't matter more. This is the last major economic data point before the Bank of Canada's next interest rate decision on July 15, 2026 — and whichever way the jobs numbers break, they'll shape what happens to borrowing costs for the rest of the summer. What Economists Are Expecting Consensus forecasts point to a modest but positive jobs report. Economists expect Canada added around 10,000 jobs in June, with the unemployment rate holding steady at 6.6%. That would follow a much stronger May, when the economy added 88,000 jobs and the unemployment rate actually fell by 0.3 percentage points. In other words, June's report is expected to show a cooling-off after May's surprise strength — not a reversal, but a return to a more modest pace of hiring. Indicator May 2026 June 2026 (Forecast) Net Employment Change +88,000 jobs +10,000 jobs (expected) Unemployment Rate 6....
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Carney and Trump Reopen Dialogue Amid Prolonged Trade Rift

 

                                    U.S. President Donald Trump and Canadian Prime Minister Mark Carney, left.


After months of silence following the collapse of Canada–U.S. trade negotiations, Prime Minister Mark Carney and U.S. President Donald Trump held a “productive and wide-ranging” phone call on Thursday.

According to the Prime Minister’s Office, the discussion focused on ongoing trade challenges, potential economic opportunities, and shared priorities for a renewed bilateral relationship. Carney also raised the idea of establishing a new economic and security framework between the two countries, while both leaders touched on efforts to bolster long-term peace and security for Ukraine and Europe.

The conversation marks the first direct engagement between the two since early August, when talks to finalize a trade pact fell apart. The breakdown came after Trump imposed sweeping tariffs — including a 35% levy on most Canadian exports not compliant with the Canada–U.S.–Mexico Agreement — citing border security concerns. Ottawa has rejected the measures as unjustified, noting that more illicit drugs have been intercepted entering Canada from the U.S. than the other way around.

While no breakthrough was announced, both sides agreed to continue discussions, offering a tentative sign that the diplomatic freeze may be thawing.

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